McDonald's: Jefferies raises target price
(CercleFinance.com) - McDonald's US comparable sales fell further in May, although at a rate that was almost halved relative to April, thereby confirming the scenario of a gradual economic recovery.
The world's leading restaurant chain in terms of sales reported that its total same-store sales declined by 20.9% last month.
Following this announcement, Jefferies confirmed its buy rating on the share, while raising its corresponding target price to 220 dollars (current price: 190 dollars).
Mc Donald's "provided an update on restaurant openings ahead of a conf appearance today. 95% of locations worldwide are now open," the broker said.
"Our 2Q EBITDA est down slightly but '20/21E EBITDA up" Jefferies adds.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The world's leading restaurant chain in terms of sales reported that its total same-store sales declined by 20.9% last month.
Following this announcement, Jefferies confirmed its buy rating on the share, while raising its corresponding target price to 220 dollars (current price: 190 dollars).
Mc Donald's "provided an update on restaurant openings ahead of a conf appearance today. 95% of locations worldwide are now open," the broker said.
"Our 2Q EBITDA est down slightly but '20/21E EBITDA up" Jefferies adds.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.